WazirX Faces New Probe and DEX Launch; Binance Delists SUI/TUSD, WRX Pairs

Binance delists underperforming pairs, including SUI/TUSD and WRX, citing low liquidity and market inefficiency.
WRX price crashes over 50% after Binance announcement and court-ordered probe into $230M hack.
SUI, HMSTR, and AEUR see 5-10% price drops amid Binance’s strategic clean-up.

The crypto market is reacting to Binance’s announcement on delisting several underperforming trading pairs. These include SUI/TUSD and WRX pairs. Binance cited low liquidity and market inefficiency as reasons.

The delisting will take effect between December 20 and 25. This has triggered price drops for affected tokens. SUI lost 4%, and WazirX’s WRX crashed almost 60%. In addition, the Delhi High Court has ordered a new probe into the WazirX hacking incident.

Binance will delist five spot trading pairs on December 20: SUI/TUSD, HMSTR/BNB, BNT/ETH, CYBER/TUSD, and AEUR/EUR. The exchange will also remove Spot Trading Bots services for these pairs. Users should update or cancel their trading bots.

Binance said this decision comes from periodic market reviews. These reviews found low liquidity and trading volume for these pairs. Binance stated that users can still trade the underlying assets through other pairs on the platform.

Besides SUI and WRX, both HMSTR and AEUR fell 10%. However, WRX was the most affected, falling 58.4% to $0.097.

WazirX Plans DEX Launch Despite Legal Hassles

The Delhi High Court rejected the Delhi Police’s report on a WazirX hack and ordered a new investigation. The $230 million hack was one of the largest this year. The bankrupt exchange is restructuring under the Singapore High Court and plans a 52% debt settlement.

Despite this, WazirX announced plans to launch a decentralized exchange (DEX). This could improve user experience and provide a more robust platform.

Binance’s delisting decisions and the regulatory scrutiny of WazirX highlight the increasing challenges in the crypto industry. Exchanges like WazirX must adapt to ensure compliance and maintain user trust.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.